Processing insurance claims is more than just a “necessary evil” or a “cost of doing business.” It’s a critical function directly impacting a business’s ability to stay operational and profitable over time. For insurance carriers themselves, it is a core business function.
Keeping up with the insurance claims processing workflow is never simple. Even if you can get over the sheer volume of data that most companies are working with, you’re still dealing with a process that contains multiple touchpoints throughout. Each is another opportunity for critical information to get lost or delayed.
Slow claim resolution times and high costs are often seen as part and parcel of the process. Thankfully, there is a way to speed things up and reduce costs.
Outsourcing has emerged as a viable way to get insurance processed quickly and with attention to detail for less cost and frustration than managing an in-house team.
The Benefits of Outsourcing
By far, the biggest benefit of outsourcing within the context of insurance claims is the increased efficiency that this decision brings with it.
Yes, processing insurance claims is important. But it also involves a lot of communication, data entry, processing, and similar tasks. Outsourcing not only makes sure that this important (but time-consuming) work gets done, but it also gives your on-premise employees more time to focus on other tasks.
Outsourcing in this way can also help reduce admin and HR costs by relieving your organization of the need to recruit, train, manage, and retain employees for the sole purpose of insurance claims processing. Remote insurance solutions also provide the flexibility to scale your team to meet demand.
All of this segues directly into what may be the most important advantage of all: a significantly improved customer experience.
A dedicated remote insurance team provides quick, easy, and personalized customer service. Internal and external clients don’t have to wait on hold for an indefinite period of time or get bounced around from representative to representative just to get an answer to a basic question or address a concern.
Remote agents can take care of everything from claims processing to making payments to checking account status.
As the quality of your customer experience increases, so will the likelihood that satisfied customers will return. Not only is outsourcing a great way to improve your business’s bottom line in the short term, but to remain competitive in an admittedly crowded marketplace in the long term.
Tyme Global: Your Partner in Exceptional Customer Service
At Tyme Global, we’re proud of the reputation earned over the last decade as an industry leader in remote staffing solutions. We go beyond simply offering access to the remote workforce you need. We also integrate with the tools you already use for a frictionless experience. We handle everything from answering inbound calls and texts to ticketing, appointment/reservation booking, and more.
By offering a reliable way to handle these essential but time-consuming daily tasks, we help free up the time of your staff so that they can focus on creating the best experience possible for your clients.
If you’d like to find out more information about the major positive impact that outsourcing can have on insurance, or if you’d just like to talk to someone about your needs in more detail, contact the team at Tyme Global today.